Britannica Dictionary definition of PARITY
[noncount]
formal
:
the state of being equal
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the struggle for gender/racial/social parity [=(more commonly) equality]
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Women have fought for parity with men in the workplace.
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The two currencies are approaching parity for the first time in decades. [=they are coming close to having the same value]
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Currently, there is rough parity in the number of students entering and graduating from the school system. [=the number of students entering and graduating from the school system is about the same]